Interest-Free Education Loan for Overseas Study

Study in Top 25 International Universities

Pakistan Education Endowment Fund (PEEF) offers Qarz-e-Hasna, an interest-free educational loan to support talented but financially constrained Pakistani students pursuing higher education at the world’s top 25 QS-ranked universities. Aligned with Pakistan’s Vision 2030, this program invests in building a skilled workforce for national development and global competitiveness.

⚠️ Important: This is not a scholarship. The full loan amount must be repaid within 10 years after degree completion.

Key Highlights

Interest-Free Support – Zero interest (no mark-up), fully funded
Top Universities Only – Study at Top 25 QS World Ranked Universities
Comprehensive Coverage – Tuition fees, monthly stipend, travel & insurance (partial support)
Flexible Repayment – Up to 10 years after employment to repay
No Service Bond – Freedom to work anywhere after graduation and contribute to Pakistan’s global knowledge economy
MS & PhD Programs – Available for Master’s and Doctoral studies in priority fields: AI, Data Science, Cybersecurity, Renewable Energy, Climate Change, and Biotechnology

Addressing the Gap

Why Qarz-e-Hasna?

Many talented Pakistani students secure admission to world-class universities but are unable to pursue their education due to financial constraints. The Qarz-e-Hasna Loan Program addresses this gap by providing interest-free financial support, enabling students from less developed districts and low-income backgrounds to access global education, build advanced skills, and contribute to Pakistan’s long-term development.

Features of Qarz-e-Hasna Loan

Acces to top universities

Enables financially deserving students to study at Top 25 QS-ranked universities worldwide.

Human Capital Development

Develops globally competitive professionals in high-priority fields.

No Service Bond

Scholars are not bound to mandatory service in Pakistan after graduation.

Interest Free Support

Loan provided under Islamic Qarz-e-Hasna principles, with zero interest.

Thematic Areas Under Qarz - e - Hasna Program

Artificial Intelligence

Cyber Security

Data Sciences

Renewable Energy

Climate Change

Space Sciences

Biotechnology

Engineering & Technology

Applicants must meet all of the following conditions to be considered for the Qarz-e-Hasna Loan Program

Basic Requirements:

Pakistani Citizen – Dual nationality is not allowed
Age Limit – Must be between 18 and 45 years at the time of application
Academic Merit – Must have obtained at least 60% marks or a minimum CGPA of 3.5 in the last completed degree
University Admission – Must have secured admission through merit-based process in a Top 25 QS World Ranked University
Approved Program – Degree program must be in an approved thematic area as determined by the competent committee
Financial Need – Must demonstrate financial need, verified through BISP and NADRA
Guarantor Required – Must provide a financially sound guarantor, who is a blood relative, willing to sign the required legal agreements

Additional Preferences

Preference is given to:

Female candidates (50% quota)
Applicants from less developed districts
Candidates from lowest income households
Pakistani nationals already studying abroad in eligible universities who require financial assistance may also apply

Important Notes

This program is an interest-free loan. The selected applicant is legally bound to repay the full loan amount within the prescribed period.
Providing false information may result in immediate disqualification and legal consequences.

PROGRAM DEATILS & TERMS

Please check the details and terms of the program below

Basic Requirements:

Pakistani Citizen – Dual nationality is not allowed
Age Limit – Must be between 18 and 45 years at the time of application
Academic Merit – Must have obtained at least 60% marks or a minimum CGPA of 3.5 in the last completed degree
University Admission – Must have secured admission through merit-based process in a Top 25 QS World Ranked University
Approved Program – Degree program must be in an approved thematic area as determined by the competent committee
Financial Need – Must demonstrate financial need, verified through BISP and NADRA
Guarantor Required – Must provide a financially sound guarantor, who is a blood relative, willing to sign the required legal agreements

Additional Preferences:

Preference is given to:

Female candidates
Applicants from less developed districts
Candidates from lowest income households
Pakistani nationals already studying abroad in eligible universities who require financial assistance may also apply

Important Notes

This program is an interest-free loan. The selected applicant is legally bound to repay the full loan amount within the prescribed period.
Providing false information may result in immediate disqualification and legal consequences.

Application Process

Step 1: Secure admission in a Top 25 QS World Ranked University
Step 2: Gather all required documents
Step 3: Apply online through the PEEF website: peef.pk
Step 4: Submit application before the deadline
Step 5: Wait for scrutiny and verification
Step 6: Selection committee review
Step 7: Results announced on website + email notification

Required Documents

📄 CNIC (front & back)
📄 Pakistani Passport (all pages)
📄 All academic certificates and transcripts
📄 University admission/offer letter
📄 Proof of university ranking (QS Top 25)
📄 Income verification documents
📄 Guarantor’s CNIC and financial documents
📄 Guarantor’s Financial Soundness Certificate

The Qarz-e-Hasna loan provides:

💵 Tuition Fees – Full or partial coverage based on need
🏠 Monthly Stipend – For living expenses abroad
✈ Travel Costs – Round-trip airfare to destination country
🏥 Health Insurance – Coverage during study period
📋 Administrative Costs – Processing and bench fees (if applicable)

Understanding Your Commitment:

This is a loan, not a grant. You are legally obligated to repay the full amount.

📅 Repayment Duration: 10 years after degree completion
💳 Installments: Equal monthly, quarterly, or annual payments
💰 Amount to Repay: 100% of the loan received (tuition + stipend + travel + insurance)
🔢 Interest: ZERO (Islamic Qarz-e-Hasna principle)

Legal Framework

You and your guarantor will be required to sign:

Deed of Agreement (Rs. 200 stamp paper) – Main loan agreement
Guarantee Bond (Rs. 100 stamp paper) – Guarantor’s financial commitment
Surety Bond (Rs. 60 stamp paper) – Additional surety
Financial Soundness Certificate (Rs. 30 stamp paper) – Guarantor’s financial capability certified by
BPS-17+ government officer
Guarantor Requirements
Your guarantor must:
Be a blood relative (father, mother, sibling, uncle, aunt, grandparent)
Be financially sound (certified by government officer)
Be equally liable for loan repayment if you default
Cannot be spouse, friend, or non-blood relative

Consequences of Default

If you fail to repay or violate terms:

You must refund the entire loan amount immediately
Plus penalty as determined by PAK-EEF
Your guarantor becomes liable to pay
Legal action can be taken against you and your guarantor
PAK-EEF’s decisions are final and cannot be challenged in court